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Monday, February 13, 2012

Indians Have Stashed $500 Billion in Banks Abroad: CBI

Well the CBI Director AP Singh said on Monday that Indians are the largest depositors in abroad banks with an estimated $500 billion of illegal money stashed by them in tax havens.

India has particularly suffered from the flow of illegal funds to tax havens like Mauritius, Switzerland, Lichtenstein, British Virgin Islands, etc.

CBI chief also said that getting more information about such illegal transactions is time taking process as investigators have to peel each layer by sending judicial requests to the country when this kind of deposits have been made.
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